commercial greenhouse facility auction property information package

Property Information Package For

108 North FM 179

Lubbock, Lubbock County, TX

Absolute Auction Schedule:

Tuesday, January 24th Registration Begins: 1 PM CST

Auction Time: 2 PM CST

To Schedule a Showing: Office Phone No. 806-553-1960

Auction Location: Onsite

www.AllianceAuctioneers.com

Auction Contact: United Country—Alliance Auction & Realty

877-271-7891 Brent Graves—Auctioneer

806-553-1960

Table of Contents

Page 1 Cover Page Page 2 Auction Details

Page 3 Table of Contents Page 4 Letter to Bidders Page 5 Auction Terms & Conditions

Page 7 Property Overview Page 8 Legal Description Page 12 Property Photos

Page 16 Maps Page 19 Water Analysis Page 30 Preliminary Title Commitment

Page 46 Contact Information A Sample Earnest Money Contract will be available at a later date.


All Prospective Bidders:

Each of us at United Country—Alliance Auction & Realty are honored that The Lender has de-

cided to utilize the auction method of marketing and the services offered by our company to sell

the real estate. Furthermore, we thank you for your interest and welcome your attendance and

participation in the auction process.

The property will be offered in one individual tract. This unique method of selling real estate

allows all interested parties to compete equally in an open, fair, and public forum. The real es-

tate will sell to the highest bidder(s) in the manner resulting in the highest total sales price.

We are providing this Property Information Package in an effort to assist you in your purchasing

decision. You are encouraged to have any buyer representatives or lenders that may need impor-

tant information to contact our office at 1-877-271-7891.

This Property Information Package (PIP) has been carefully prepared to assist you in your pre-

auction due diligence. Please carefully review the property information, disclaimers, and sample

earnest money contract as well as the terms and conditions of the auction.

Please refer to our website at www.allianceauctioneers.com for the most current information

about this and future auctions. Should you have any questions or need additional information,

please feel free to contact our office at 806-553-1960 or toll free 877-271-7891 or by email at

[email protected].

Good Luck at the Auction!!

Biddingly yours,

Brent R. Graves

Owner/Auctioneer

2744 Duniven Circle

Amarillo, TX 79109 877-271-7891


Auction Terms & Conditions

PROCEDURE: Property will be offered as one individual tract. BUYER’S PREMIUM: A 10% Buyer’s Premium is in effect for all purchases. The Buyer’s Premium will be added to the “High Bid Price” to determine the “Sales Price” or “Contract Price”. DOWN PAYMENT: Ten percent (10%) down payment on the day of the auction, upon signing a purchase agreement immediately following the close of bidding. The down payment may be paid in the form of cash, personal check, business check, cashier’s check, or wire transfer. The remainder of the purchase price is payable in cash at closing. YOUR BIDDING IS NOT CONTINGENT UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing. ACCEPTANCE OF BID PRICES: This is an ABSOLUTE AUCTION, all successful bidders will sign a Purchase Agreement at the auction site immediately following the close of the auction. REAL ESTATE TAXES AND ASSESMENTS: The 2012 Property Taxes will be prorated to the date of closing. The buyer will be responsible for any “rollback” in the property taxes. The buyer(s) will be responsible for all additional taxes imposed after the date of execution of the Warranty Deed by Seller as a result of any change in use of any part of the subject property, the intent being that all such additional taxes shall be the responsibility of the buyer and the buyer’s heirs, personal rep-resentatives and assigns. BROKER PARTICIPATION: A 3% commission of the submitted written bid, 1% commission of any amount above the written maximum pre-bid will be paid to the properly licensed Broker whose prospect purchases and closes on the real estate per United Country – Alliance Auction & Realty’s cooperating Broker Guidelines. NO Cooperating Broker fees will be paid without a written opening bid. Under no circumstance can a Broker be a principal or an owner or officer of any entity AND a Cooperating Broker in the same transaction. To obtain these guidelines, please contact the auction office prior to January 20th. CLOSING: Will take place on or before Friday, February 24th, 2012 or as soon thereafter as appli-cable closing documents and surveys (if needed) are completed. POSSESSION: Full possession will be given at closing. Early possession will not be granted prior to closing.


Auction Terms & Conditions (cont.) TITLE: Seller shall execute a Warranty Deed conveying the real estate to the buyer(s). Buyer(s) will be responsible for all expenses related to acquiring an Owner’s Policy of Title Insurance and/or a mortgagee’s title policy, if desired or required. EASEMENTS AND LEASES: Sale of the property is subject to any and all easements of record and any and all leases. SURVEY: Seller will NOT pay for the cost of a survey, nor will closing be delayed in the absence of a sur-vey. All advertised acreages, square footages and other measurements are approximate and have been estimated based on current legal descriptions, aerial photos or other reliable sources and should not be considered accurate or used as boundary lines or legal descriptions. AGENCY: Alliance Auction Group, LLC dba United Country – Alliance Auction & Realty and its representa-tives are exclusive agents of the seller. DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all re-lated materials are subject to the terms and conditions outlined in the agreement to purchase. AN-NOUNCEMENTS MADE BY THE AUCTIONEER AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation either expressed or implied, concerning the property is made by the seller or the auction company. Each potential bidder is responsible for conducting his or her own independent inspec-tions, investigations, inquiries, and due diligence concerning the property. The information provided is be-lieved to be accurate, but is subject to verification by all parties relying on it. No liability for its accuracy, er-rors or omissions is assumed by the seller or the auction company or any of its respective representatives. All sketches and dimensions are approximate. All acreages, square footages and other measurements are approximate and have been estimated based on legal descriptions, aerial photographs or other sources deemed reliable. Conduct at the auction and increments of bidding are at the direction and discretion of the auctioneer. The Seller and Auction Company reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. All decisions of the auctioneer are final. SPECIFIC PERFORMANCE: All bidders agree and understand that bids submitted are binding offers and further agree to complete the transaction. Auctioneer and/or Seller reserve the right to pursue any default-ing bidder through legal action. NEW DATA, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any announcements regarding any changes, corrections or additions to the property information. NOTE: Video taping, flash photography and/or public announcements will be allowed on auction day ONLY with prior approval from United Country—Alliance Auction & Realty SELLER: Citizens Bank


Property Overview

Great opportunity! 47,600+/- sq. ft. of Commercial Greenhouses on

3.82+/- acres up for auction! They are located at 108 North FM 179.

Six Individual Greenhouse: 33’ x 100’

One Greenhouse: 84’ x 100’

One Greenhouse: 100’ x 126’

One Office/Warehouse: 40’ x 125’

Three Individual Offices

Storage Rooms

Dock Well

One Cooler: 20’ x 80’ One Cooler: 10’ x 20’ 2011 Approximate Taxes: $2,245.82


Legal Description Tract 1: A tract located in Section 17, Block J-S, Lubbock County, Texas, being further described as follows: BEGINNING at a pk nail with cap set for the Northwest corner of this tract which bears N. 89°58’05” E. a distance of 455.00 feet from the Northwest

corner of the Southwest Quarter of Section 17, Block J-S; THENCE N. 89°58’05” E. a distance of 239.80 feet to a 1/2” iron rod with cap set for the Northeast corner of this tract; THENCE S. 0°07’22” E. a distance of 544.76 feet to a 1/2” iron rod with cap set for the Southeast corner of this tract; THENCE S. 89°52’52” W. a distance of 239.80 feet to a 1” square tube found at the Southwest corner of this tract;

THENCE N. 0°07’22” W. a distance of 545.13 feet to the Point of Beginning. Tract II: All that certain parcel of land lying and being situated in Lubbock County, Texas, to-wit: Being a part of the Southwest Quarter (SW/4) of Section 17, Block JS, Certificate 1037, E.L. and R.R. R.R. Co., Lubbock County, Texas, described by metes and bounds as follows:

BEGINNING at a point on the West line of said Section 17, Block JS, 362 feet South of the Northwest corner of the Southwest Quarter (SW/4) of said Section 17, the Southwest corner of a tract heretofore conveyed to Roger Dale Cook and wife: THENCE East along the South line of said tract a distance of 455 feet to its Southeast corner;


Legal Description (continued)

THENCE South parallel to the West line of said Section 17 a distance of 184 feet to a point; THENCE West parallel to the North line of the Southwest Quarter (SW/4) of said Section 17, a distance of 455 feet to a point in the West line of said Section 17, Block JS; THENCE North along the West line of said Section 17, a distance of 184 feet to the place of beginning; SAVE AND EXCEPT a 1.06 acre tract of land, being more particularly de s c r i b e d as follows: A 1.06 acre tract of land out of the Southwest 1/4 of Section 17, Block JS,

Certificate 1037, E.L. & R.R. Railway Company Survey, Lubbock County, Texas out of a 1.92 acre tract of land described in Volume 720, Page 1, Lubbock County Deed of Trust Records and being described by metes and bounds as follows: BEGINNING at a railroad spike found in the West line of Section 17 in F.M. Highway 179 for the Northwest corner of said 1.92 acre tract and the Northwest corner of this tract, the northwest corner of the Southwest 1/4 of Section 17 bears North a distance of 362.00 feet;

THEN S. 89°55’39” E. along the North line of said 1.92 acre tract a distance of 252.40 feet to a 1/2 inch steel rod set for the Northeast corner of this tract; THEN South a distance of 184.01 feet to a 1/2 inch steel rod set in the South line of said 1.92 acre tract for the Southeast corner of this tract;



THEN N. 89°55’39” W. along the South line of said 1.92 acre tract a distance of 252.40 feet to a railroad spike found in the West line of Section 17, in F.M. Highway 179 for the Southwest corner of said 1.92 acre tract and the Southwest corner of this tract; THEN North along the West line of Section 17 and the West line of said 1.92 acre tract a distance of 184.01 feet to the Point of Beginning. TRACT III: A Thirty foot (30’) Access Easement being more particularly de-scribed as being the South 30 feet (S. 30’) of a 1.06 acre tract of land, de-scribed as follows: A 1.06 acre tract of land out of the Southwest 1/4 of Section 17, Block JS, Certificate 1037, E.L. & R.R. Railway Company Survey, Lubbock County,

Texas out of a 1.92 acre tract of land described in Volume 720, Page 1, Lubbock County Deed of Trust Records and being described by metes and bounds as follows: BEGINNING at a railroad spike found in the West line of Section 17 in F.M. Highway 179 for the Northwest corner of said 1.92 acre tract and the Northwest corner of this tract, the northwest corner of the Southwest 1/4 of Section 17 bears North a distance of 362.00 feet; THEN S. 89°55’39” E. along the North line of said 1.92 acre tract a

distance of 252.40 feet to a 1/2 inch steel rod set for the Northeast corner of this tract; THEN South a distance of 184.01 feet to a 1/2 inch steel rod set in the South line of said 1.92 acre tract for the Southeast corner of this tract:



THEN N. 89°55’39” W. along the South line of said 1.92 acre tract a distance of 252.40 feet to a railroad spike found in the West line of Section 17, in F.M. Highway 179 for the Southwest corner of said 1.92 acre tract and the Southwest corner of this tract; THEN North along the West line of Section 17 and the West line of said 1.92 acre tract a distance of 184.01 feet to the Point of Beginning; SAVE AND EXCEPT the West Forty feet (W. 40’) of said 1.06 acre tract, as set forth in a Right-of-Way Deed, dated March 3, 1950 and recorded in Volume 384, Page 128 of the Deed Records of Lubbock County, Texas.


Improvement Sketch


Office/Warehouse Sketch


Water Analysis

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Preliminary Title Commitment

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Be sure to mark your calendar for Tuesday, January 24th, 2012

2:00PM CST

Please call our office if you have any questions

2744 Duniven Circle Amarillo, TX 79109

Toll Free: 877-271-7891

Office: 806-553-1960 Fax: 806-553-1964

[email protected] www.AllianceAuctioneers.com

Please be sure to check out our website for up-to-date details for this auction as well as upcoming auctions.

commercial greenhouse facility auction property information package

Documents

cover page page

auction details page

bidders page

auction terms conditions

auction contact

maps page

property overview page

property photos page